Matheson stops using charities to help clients avoid tax
Dublin law firm used trusts to provide services to customers including ‘vulture funds’
Matheson is understood to have applied to Revenue to relinquish the charitable status of Eurydice, Medb and Badb, originally registered with the Charities Regulatory Authority to “relieve poverty and distress”.
Dublin law firm and corporate tax adviser Matheson has abandoned the use of three registered charities that helped its clients, including some so-called “vulture funds”, to avoid tax on billions of euro of high-risk assets.
Matheson routinely used the charitable trusts – Eurydice, Medb and Badb – to provide shareholder services for corporate clients such as Mars Capital, linked to US fund Oaktree Capital, which owns swathes of distressed Irish mortgages.